Rig maker Lamprell expects tough year

Emirati rig builder Lamprell said Monday it expects the weak market for crude oil will impact its ability to land new contracts in 2015. The oil services company said it had a strong year in 2014, but didn’t anticipate a replication of that success . “With the recent slump in the oil price, winning work in 2015 is going to be a challenge as the industry adjusts to the new realities,” Chief Executive Officer Jim Moffat said in a statement. Oil prices have lost roughly half of their value since June as markets tilt toward the supply side in a weakened global economy. The price is forcing some industry leaders to cut back on capital spending plans for 2015, which is spilling over into secondary […]